Claim repayment of ‘temporary advance’ worth $265 million.

Satyam Computer Services (rebranded Mahindra Satyam) has received legal notices from 37 companies claiming a refund of $265 million (approximately Rs 1,230 crore), allegedly given as temporary advance.

"We have received these legal notices during the last one week to 10 days. Our internal legal cell, on November 14, has replied to each of these notices, saying these claims are legally untenable," a senior Satyam official told Business Standard, preferring anonymity.

It may be recalled that the Serious Fraud Investigation Office, which is examining the financial fraud committed by Raju and his family, said in April this year that there was no 'extra liability' of Rs 1,230 crore in the books of Satyam.

On June 9, the company had disclosed a total of about Rs 10,000 crore in legal and other claims. Besides Rs 1,230 crore sought by 37 'unacknowledged' creditors, these included claims worth about Rs 400 crore related to four overseas acquisitions made under the leadership of its disgraced founder Raju, a

Satyam shares today fell about 3 per cent in early morning trade to 5.23 dollars at the New York Stock Exchange. The shares had plunged to as low as 0.78 dollars on January 12, 2009 after Raju's disclosure of the fraud.